“How can I sell my probate house?”
Firstly, do you have thorough knowledge about selling a house? There are so many legal technicalities involved with buying and selling that it is almost impossible to foresee shortcomings. Thus, you will need guidance. And, who better to trust about property issues rather than top most genuine real estate companies?
Probate properties are the ‘hand me down’ material possessions. Still sounds a little confusing does it not?
Well here is an example that will explain this situation better:
You had an aunt or uncle who left you property estate in their will and have recently deceased, then in that case, you are the new legal owner. Now this new property that you are gaining is automatically becoming a probate property. Thus, you gain this estate or house after the court goes through Will papers. Now, such case scenarios arise when there is a sudden decease of the concerned individual. As the person has left you their property, you become the by default owner, once all legal verification is complete.
One of the biggest lie that every realtor feeds to the house seller is about their probate property’s estimated selling duration. You must be thinking how can such a property take time to sell? But, the sad reality is, most of the times, individuals do not prefer purchasing a property that was legally passed in accordance to will and court sessions.
There are 2 basic reasons for such a scenario:
1.Legal transfer is time taking
Firstly it takes quite some time to act according to the will of the deceased person. Bank credits and previous impending loans along with a death certificate needs to be produced to the court. Upon this, the judge is going to give clearance. After the completion of this set of proceedings, there is another set of court session that will make sure that you are not having any impending loans along with a clear identification of permanent residence.
After this is cleared, you are supposed to reside in this habitable property for sometime (depending on state and country jurisdiction). Only after completing all these processes can you put up a property for sale; meaning another extensive time period for the name transfer.
2.Non disclosed terms and condition
Often probate properties such as houses come to the new owner in a partial part. That means you can neither fully own a property land strip or a house. It is sometimes a joint ‘hand me down’ scenario. Now, the new owners will not want to purchase a shared portion of land right? Thus, this decreases the buyers list to many folds.
“Do I have to live like this or is there some way that I can sell my probate house?”
Connect and set up the entire process with an authentic real estate company. They have agents and lawyers in their team who can solve your problem of owning and later selling this probate property in a jiffy! Contact them as soon as you learn of the Will’s enactment from a lawyer. That way you get to crack a better deal with the other party/parties who are about to gain a portion or in the case of probate property resale. Gain the maximum profit share possible!